|
Obtaining an online merchant account to accept credit cards
on the Internet is more difficult than obtaining a 'regular'
merchant account due to the high risk that the card is not
present nor is a signature obtained. Even if a merchant already
has a physical world merchant account, that account is not
likely to be Internet-ready as Internet transactions fall
under a different category and qualify for different rates
than physical world transactions.
If you already have a merchant account, notify your
financial institution that you wish to use the online payment
service. If you are accepted, they will set you up with a
different online merchant account. If your financial institution
have strict rules on issuing online accounts, they may not
allow you to get one.
If you do not have a merchant account yet or wish to find
out which rates you may qualify for, contact merchant
account providers or third-party
merchant services.
Merchant Account Providers:
Third Party Merchant Services:
A "third party credit card merchant service"
is a company that will perform the credit card billing under
their company name using their merchant account (for a percentage
of the total sale amount) and forward the money to your
bank account or send you a check. This makes obtaining a
merchant account for your company unnecessary.
Third Party credit card merchant service companies own
merchant accounts with the additional rights to use that
merchant account to accept credit card orders on behalf
of other companies.
|
